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AT Ashtead Technology Holdings plc

0.00
0.00 (0.00%)
Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Technology Holdings plc LSE:AT London Ordinary Share Ordinary Shares
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ashtead Technology Share Discussion Threads

Showing 376 to 399 of 450 messages
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
DateSubjectAuthorDiscuss
18/4/2024
14:47
Wow I'm humbled!! :-) :-)I'm very well thank you Sogo. Still fighting the good fight and always on the hunt for the high growth stocks. Bought into here a couple of weeks ago, then doubled my position on results day because the size of drop didn't make sense. Seems a good decision so far.Also in Warpaint, Severfield, Hunting and Darktrace which are doing OK. KINO is another I'm in but a bit down and waiting for it to turn (or get bought out).The story looks good here.
villarich
18/4/2024
09:58
Heya Villa! Indeed, indeed! All well, thank you.
Hope you're well and have benn upto no good?

Yep, I name my high growth, multi-bagger potential, stocks after your good self. I call them "Villa" stocks in your honour! ;-))
In the vein of FEVR, PRSM, BOO etc. I hope this will be one too... (joins my US Tech ones with Nvidia already up there and one or two others "queueing").

A pleasure to read you... and a good sign too!

sogoesit
18/4/2024
08:16
Hi Sogo, long time no speak. I hope you and yours are well. Once again I stumble across a share you're involved in. Must be a good sign...
villarich
18/4/2024
07:30
My underlying purchase shortly after the bell, 50% holding increase, was nice. Long may the discussions continue. :-)
johnrxx99
18/4/2024
07:06
RBC RAISES ASHTEAD TECHNOLOGY PRICE TARGET TO 780 (695) PENCE - 'OUTPERFORM'
bigbigdave
17/4/2024
20:06
Who was it selling at the opening bell yesterday at 600p?
Whoever it was must feel mugged two days on and I'm sorry for anyone who faces this predicament.
The stock market takes no hostages at times like these.

eagle eye
17/4/2024
16:46
Good to see Bill Shannon chairman bought 3015 shares yesterday. At 6.60 he liked the price that's positive.
chester9
17/4/2024
16:28
Thanks for detail, Chester9!
Look conservative to me. I guess there will be an update to the consensus on Ashtead's site sometime.

sogoesit
17/4/2024
16:27
Market likes that!
bigbigdave
17/4/2024
16:19
Seems that the Ch of AT took yesterday's share price drop as an opportunity to fill this FYs ISA allowance
whittler100
17/4/2024
12:43
Ashtead Technology Holdings Plc ATAS.L : Berenberg raises target price to 775pfrom 700pAshtead Technology Holdings Plc ATAS.L : Stifel raises target price to 770pfrom 750pThese are the two this am.
chester9
17/4/2024
11:22
Just saw it pop up on sharepad this morning, will look later and find the details
jqb1
17/4/2024
10:42
About "exceptionals", albeit taking carcosa's comments, AT is a (part) M&A company, having 17%+ growth from inorganic acquisitions (plus adherent restructuring costs) on a regular basis.
Like its bigger sibling AHT it seems to go with the rental business territory. To my mind, while its M&A strategy continues in this growth phase these costs/benefits, being regular, are not exceptional.
That said, when working my analysis for forward growth estimates in "growth stocks", I do separate the different business "activities" otherwise one can be deceived where growth originates and what the costs/benefits are. The "costs" don't just appear in the "adjusted" figures they also appear in the Balance Sheet as increased equity or, in this case, increased use of Debt, or vice versa less Debt with increased "profits". This impacts ROIC which, commendably, the management of this company uses as an appropriate measure of returns.

The CFO said:
"Our 51% revenue growth was derived from organic growth (35%), M&A (17%) (being the full year impact of the WeSubsea and Hiretech acquisitions completed in 2022 plus one-month trading from our most recent acquisition, ACE Winches), with a small decrease from FX rates (-1%)."
The issue is what will the proportion of growth due to M&A be in FY2024 and its impact on ROIC.
Anyone guess?

(PS. I am not a fan of modern accounting and its potential to be manipulated, if only in presentation, by managements potentially hiding the true nature of their businesses... whether "standard" or not. I don't think these are "standard" By the way.)

Reminder: if one investor accepts "standards", or doesn't, in measurement and buys/sells on those "standards", or others, they may do themselves an injustice compared to other investors' views on performance metrics. This creates arbitrage and risk; an example of which happened yesterday... and may persist!!

sogoesit
17/4/2024
10:08
Show me...
Talk, as usual, is cheap.

sogoesit
17/4/2024
09:54
Upgrades already coming through
jqb1
17/4/2024
08:36
With reference to the above posts, herewith are the pre-results 7 analyst consensus figures, as of 15 February 2024, compared to the (results)

Revenue 107.2 (110.5)
Underlying EDITDA 47.2 (48.3)
Underlying Operating Profit 34.7 (34.8)
Underlying PBT 31.5 (33.0)
Underlying EPS 29.7 (33.4)
Net Debt 73.5 (61.7)

In all instances Ashtead beat forecasts.

The analyst figures are taken from Ashtead's website

As is typical, Analyst data is adjusted '...Underlying figures exclude exceptional costs, FX gain/loss and amortisation.' This is industry standard.

The argument over adjusted v statutory figures is a valid concern and investors have to make their own mind up as to the validity of the adjustments and, for me, whether or not a company is making large adjustments over many years. After all 'exceptional costs' should by their very nature be 'exceptional'.

In Ashtead's case those exceptionals relate to FX, acquisition Costs, Restructuring, Software and deferred finance costs. So in my book I'll say that's ok. Others may have differing opinions.

As for potential future revenue growth I'd agree with Whittler100's views. Additionally we may see further acquisition activity.

The Full Year Results Presentation can be downloaded from

carcosa
17/4/2024
06:56
BERENBERG RAISES ASHTEAD TECHNOLOGY PRICE TARGET TO 775 (700) PENCE - 'BUY'
bigbigdave
17/4/2024
04:06
I quoted Sharescope figures above, which are statutory. The Eps was down 8.5%, profit before tax was down 10% and the share price is down about 10%. All those are based on consensus. Adjusted gives a rosier picture but not actual. Having said that T/O was ahead by GDP3m.

So, for next year the actual forecasts are:-

PTP - 39.19
EPS - 36.99
TO - 161.6

Meanwhile I hope we get update forecasts.

johnrxx99
16/4/2024
20:16
Sharepad, the online version of Sharescope, showed consensus forecasts for 2023 from seven analysts. These include revenue, EBIT, EBITDA, PTP, ATP, EPS. I believe these forecasts are presented on an adjusted basis where appropriate. Assuming this to be the case, all forecasts were exceeded by the announced results.

However the consensus target price from these same analysts was 679p, which is very close to where we are now.

In view of the speed at which the price was marked down at the open, I cannot escape the conclusion that something was going on prior to the open which persuaded market makers that the pre-results price had got well ahead of itself.

Like others above, I feel very comfortable about holding at this price.

wilmdav
16/4/2024
17:03
The impatient selling to the patient today.
bigbigdave
16/4/2024
11:30
On a Pro-Forma 12 month basis for ACE acquisition, assuming additional 11 months' Revenue from ACE (£3.55m x 11) for Total £149.516m, no increase in Finance Costs (£4m) and constant tax rate (21.5%) the EPS comes in at 37.56p.

Assuming a Forward PER of 28x the share price would then be 1051p for FY2024 at no growth. P/S would revert to 2022's 4x.

Assuming G&A did not increase proportionately, say only by 50% (from £55.291m to £64.827m instead of £74.363m), then Pro-Forma FY2024 no growth EPS would come in at 47p.

sogoesit
16/4/2024
10:08
My stop loss triggered, sold at 680.47What are people's view on where oversold territory will be price wise?
mutley655
16/4/2024
09:53
The sales are usually split out more clearly but if assume winches contributed 3.3m then growth in ongoing slowed in H2, but still good.Expenses up 53% when sales 51% is not good though.Sales fc on Stocko 162 looks about right that indicates 10% growth in lfl business.If costs not brought under control then forward PE stays over 20, not cheap hence sell off.Long term positive but cost growth needs to come down lower than sales growth. I should have sold last week. I will watch on Friday and decide from there.
chester9
16/4/2024
09:46
Slogsweep... I doubt it but given the share price reaction the company broker might likely issue something soon!
sogoesit
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older

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